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Is Baidu Breaking Out?
Published on Friday, 13 January 2012 08:24 Written by Christian Paolinetti
New York, January 13th (TradersHuddle.com) - Shares of Baidu, Inc. (NASDAQ:BIDU) closed the trading session at $128.30 just above calculated resistance at $125.14 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range
Baidu, Inc. (NASDAQ:BIDU) provides Chinese language Internet search services primarily in China and Japan. The Company offers algorithmic search, enterprise search, pay for performance and news, MP3, and image searches.
Baidu's stock was trading in a well defined range with support at $117.17 and resistance at $125.14, given that this range was broken traders will be closely monitoring the stock
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